As we step into the new week, several key economic indicators and central bank updates are scheduled to take place. These events are critical for investors, economists, and policymakers alike, offering insights into the current state of the global economy. Here’s a rundown of what to expect in the upcoming week.

The Bank of Canada is poised to release its Q1 Business Outlook Survey (BOS) on Monday. BOM Capital Markets analyst Benjamin Reitzes anticipates an improvement in the BOS indicator. However, it’s expected to remain in negative territory for the fifth consecutive quarter, highlighting persistent softness in economic activity.

• The Reserve Bank of Australia’s March board minutes are set to be released, with Westpac analysts predicting a shift towards more balanced commentary.
• In the United States, the focus will be on the JOLTS Job Openings for February. Deutsche Bank’s Brett Ryan emphasizes this report as an informative data point for Federal Reserve officials and market participants, given its insights into the labor market’s dynamics.

The ECB will publish the minutes of its February rate decision. Although Deutsche Bank does not anticipate new revelations, they note that ECB President Christine Lagarde’s recent speech provided clear insights into the ECB’s current thinking and future expectations.

Additionally, the ECB will release its monthly Asset Purchase Programme (APP) update, including a country breakdown, and the PEPP update, detailing monthly and cumulative net purchases of debt securities under the PEPP.

• Germany’s HICP: Set for release on Tuesday, with a consensus prediction of a year-over-year increase of 2.4%. UniCredit suggests a decline in food prices and a modest rise in the core rate.
• US Nonfarm Payrolls and Canadian Employment Data: On Friday, attention will turn to the US and Canada for updates on employment figures. Analysts forecast a slowdown in job growth for the US and moderate job gains in Canada, driven by population growth and economic activity.

Throughout the week, various central bank officials will speak, providing further insights into the economic outlook and policy direction. Additionally, other data points such as Germany’s Factory Orders and France’s Industrial Production will be closely watched.

This week’s economic indicators and central bank updates are pivotal for understanding the global economic landscape. As central banks navigate through economic uncertainties, their policies and outlooks will be crucial in shaping market expectations and economic strategies moving forward.